Morning Movers 09/27: (XNY) (IVN) (FTK) (GRO) (SQNS) Higher; (BIOD) (KEYW) (ACW) (JVA) Lower
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China Xiniya Fashion (NYSE: XNY) 28.9% HIGHER; the stock gapped sharply higher after closing under $1.40 yesterday. Traders are likely buying the dip this morning as shares are down nearly 47 percent over the last five trading sessions.
Biodel Inc. (Nasdaq: BIOD) 26% LOWER; reports top-line results from a Phase 1 clinical trial of BIOD-105 and BIOD-107 at Oregon Health and Sciences University to evaluate the pharmacokinetic, pharmacodynamic and infusion site tolerability profiles of these ultra-rapid-acting formulations of recombinant human insulin, relative to Humalog, when delivered by insulin pumps.
The KEYW Holding Corporation (Nasdaq: KEYW) 23.6% LOWER; has been informed that the systems integration contract referred to by KEYW as "Aura" has been awarded to a competitor.
Accuride (NYSE: ACW) 22.4% LOWER; narrows its FY11 sales guidance from $950 million-$1 billion to $950-$975 million, which compares to the Street estimate of $976.9 million. EPS guidance slashed from $0.40-$0.50 to a loss of $0.05 to a gain of $0.04. The Street is currently looking for $0.24.
Ivanhoe Mines (NYSE: IVN) 21.3% HIGHER; last night Rio Tinto (NYSE: RIO) disclosed it purchased an additional 3.7 million shares in Ivanhoe, bringing its total stake to 49 percent. The stock was upgraded to Outperform at Credit Suisse this morning.
Flotek Industries, Inc. (NYSE: FTK) 19.1% HIGHER; issued the following select financial and operational data today in conjunction with the Company's presentation at the Independent Petroleum Association of America's San Francisco Oil & Gas Investment Symposium. As presented on the Company's second quarter earnings conference call, the Company had July revenues of approximately $23 million. In addition, the Company announced today that August revenues were approximately $25 million. Flotek also announced that as of September 20, 2011, the Company had a cash balance of approximately $23 million compared to approximately $15 million as of June 30, 2011. In August, the Company made its regular semi-annual interest payment on its convertible debt of approximately $2.9 million.
Agria (NYSE: GRO) 18.3% HIGHER; shares continuing higher today following an 11 percent gain Monday. The stock was down nearly 20 percent over Thursday and Friday's trading sessions. The stock may be moving up with crop prices.
Sequans Communications S.A. (NYSE: SQNS) 16.5% HIGHER; Sequans and Huawei last night jointly announced that they would begin a large scale trial in Shenzhen. This trial will be conducted on China Mobile’s TD-LTE network deployed by Huawei, using devices based on Sequans’ TD-LTE chipset. This is a significant milestone in the commercialization progress of TD-LTE.
RealD (NYSE: RLD) 12.7% HIGHER; an analyst at Merriman Capital this morning suggested the company's attractive valuation may lead to a strategic acquisition or a go-private offer.
Stillwater Mining (NYSE: SWC) 12.7% HIGHER; withdraws its offering of senior notes, citing market conditions.
Basic Energy Services (NYSE: BAS) 12.6% HIGHER; stock continuing to bounce today following a 4 percent move higher yesterday as oil bounced. The stock tumbled 42 percent over the last week.
PetroQuest (NYSE: PQ) 11.8% HIGHER; upgraded to Overweight at Stephens this morning.
Penn Virginia (NYSE: PVA) 11.8% HIGHER; oil and nat-gas continue to bounce today. Nat-gas currently up 4.5 percent.
Coffee Holding Co., Inc. (Nasdaq: JVA) 11.8% LOWER; has entered into a subscription agreement with certain institutional investors. Pursuant to the Subscription Agreement, the Company will sell up to 890,000 units, each consisting of one share of the Company's common stock and three-tenths of a warrant to purchase one share of common stock for a purchase price of $10.40 per unit.
Cytokinetics, Incorporated (NASDAQ: CYTK) 11.4% HIGHER; announced the publication of preclinical research relating to its program directed to the inhibition of smooth muscle myosin as a novel therapeutic approach for the potential treatment of hypertension in the October 2011 issue of The Journal of Pharmacology and Experimental Therapeutics.
Molycorp, Inc. (NYSE: MCP) 11% HIGHER; rumors of more China export cuts.
Allegheny Technologies (NYSE: ATI) 10.3% HIGHER; commodities continuing to rebound.
Neogen Corp (NASDAQ: NEOG) 10.3% LOWER; reported Q1 EPS of $0.25, $0.01 worse than the analyst estimate of $0.26. Revenue for the quarter came in at $45.7 million versus the consensus estimate of $47.29 million.
InterOil (NYSE: IOC) 9.9% LOWER; shares are under heavy pressure Tuesday following news Papua New Guinea's new energy minister has criticized a LNG joint venture operated by the company. The venture has been "announcing, presenting and promoting a different project without seeking prior formal State approval," energy minster William Duma said.
Biodel Inc. (Nasdaq: BIOD) 26% LOWER; reports top-line results from a Phase 1 clinical trial of BIOD-105 and BIOD-107 at Oregon Health and Sciences University to evaluate the pharmacokinetic, pharmacodynamic and infusion site tolerability profiles of these ultra-rapid-acting formulations of recombinant human insulin, relative to Humalog, when delivered by insulin pumps.
The KEYW Holding Corporation (Nasdaq: KEYW) 23.6% LOWER; has been informed that the systems integration contract referred to by KEYW as "Aura" has been awarded to a competitor.
Accuride (NYSE: ACW) 22.4% LOWER; narrows its FY11 sales guidance from $950 million-$1 billion to $950-$975 million, which compares to the Street estimate of $976.9 million. EPS guidance slashed from $0.40-$0.50 to a loss of $0.05 to a gain of $0.04. The Street is currently looking for $0.24.
Ivanhoe Mines (NYSE: IVN) 21.3% HIGHER; last night Rio Tinto (NYSE: RIO) disclosed it purchased an additional 3.7 million shares in Ivanhoe, bringing its total stake to 49 percent. The stock was upgraded to Outperform at Credit Suisse this morning.
Flotek Industries, Inc. (NYSE: FTK) 19.1% HIGHER; issued the following select financial and operational data today in conjunction with the Company's presentation at the Independent Petroleum Association of America's San Francisco Oil & Gas Investment Symposium. As presented on the Company's second quarter earnings conference call, the Company had July revenues of approximately $23 million. In addition, the Company announced today that August revenues were approximately $25 million. Flotek also announced that as of September 20, 2011, the Company had a cash balance of approximately $23 million compared to approximately $15 million as of June 30, 2011. In August, the Company made its regular semi-annual interest payment on its convertible debt of approximately $2.9 million.
Agria (NYSE: GRO) 18.3% HIGHER; shares continuing higher today following an 11 percent gain Monday. The stock was down nearly 20 percent over Thursday and Friday's trading sessions. The stock may be moving up with crop prices.
Sequans Communications S.A. (NYSE: SQNS) 16.5% HIGHER; Sequans and Huawei last night jointly announced that they would begin a large scale trial in Shenzhen. This trial will be conducted on China Mobile’s TD-LTE network deployed by Huawei, using devices based on Sequans’ TD-LTE chipset. This is a significant milestone in the commercialization progress of TD-LTE.
RealD (NYSE: RLD) 12.7% HIGHER; an analyst at Merriman Capital this morning suggested the company's attractive valuation may lead to a strategic acquisition or a go-private offer.
Stillwater Mining (NYSE: SWC) 12.7% HIGHER; withdraws its offering of senior notes, citing market conditions.
Basic Energy Services (NYSE: BAS) 12.6% HIGHER; stock continuing to bounce today following a 4 percent move higher yesterday as oil bounced. The stock tumbled 42 percent over the last week.
PetroQuest (NYSE: PQ) 11.8% HIGHER; upgraded to Overweight at Stephens this morning.
Penn Virginia (NYSE: PVA) 11.8% HIGHER; oil and nat-gas continue to bounce today. Nat-gas currently up 4.5 percent.
Coffee Holding Co., Inc. (Nasdaq: JVA) 11.8% LOWER; has entered into a subscription agreement with certain institutional investors. Pursuant to the Subscription Agreement, the Company will sell up to 890,000 units, each consisting of one share of the Company's common stock and three-tenths of a warrant to purchase one share of common stock for a purchase price of $10.40 per unit.
Cytokinetics, Incorporated (NASDAQ: CYTK) 11.4% HIGHER; announced the publication of preclinical research relating to its program directed to the inhibition of smooth muscle myosin as a novel therapeutic approach for the potential treatment of hypertension in the October 2011 issue of The Journal of Pharmacology and Experimental Therapeutics.
Molycorp, Inc. (NYSE: MCP) 11% HIGHER; rumors of more China export cuts.
Allegheny Technologies (NYSE: ATI) 10.3% HIGHER; commodities continuing to rebound.
Neogen Corp (NASDAQ: NEOG) 10.3% LOWER; reported Q1 EPS of $0.25, $0.01 worse than the analyst estimate of $0.26. Revenue for the quarter came in at $45.7 million versus the consensus estimate of $47.29 million.
InterOil (NYSE: IOC) 9.9% LOWER; shares are under heavy pressure Tuesday following news Papua New Guinea's new energy minister has criticized a LNG joint venture operated by the company. The venture has been "announcing, presenting and promoting a different project without seeking prior formal State approval," energy minster William Duma said.
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